UPDATE 1-Furniture Brands revenue drops but loss narrows

* Q4 shr loss $1.35 vs year-ago shr loss $7.25

* Q4 rev $285.6 mln vs target $280 mln-$290 mln

NEW YORK, Feb 3 (BestGrowthStock) – Furniture Brands International
Inc (FBN.N: ) on Wednesday said that its fourth-quarter revenue
declined almost 30 percent as consumers shied away from
spending on non-essentials because of the weak economy.

The company said revenue fell to $285.6 million from $403.4
million in the same quarter a year ago but was in line with the
company’s recent forecast for sales in a range of $280 million
to $290 million. [ID:SGE60BOL6]

But due to cost cutting, the company, which sells furniture
under a variety of brands said its per share loss from
continuing operations narrowed to $1.35 for the fourth quarter
from a loss of $7.25 per share in the same quarter a year ago.

The company also said it expects to receive a federal tax
refund of $58 million to $60 million, subject to a tax return
filing, in 2010 with most of the refund expected in the first
half of the year.

Stock Market Money

(Reporting by Sinead Carew; editing by Carol Bishopric)

UPDATE 1-Furniture Brands revenue drops but loss narrows